Petition to wind up Accolade (Shels)

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16/03/2006, 4:27 PM
wws

Is this a wind-up?
16/03/2006, 4:32 PM
chippie0001

Quote:

Originally Posted by wws

Is this a wind-up?

No its really in the paper.
16/03/2006, 4:34 PM
Sheridan

Quote:

Originally Posted by chippie0001

No its really in the paper.

And they say accountants have no sense of humour, eh?
16/03/2006, 4:35 PM
BohsFans

Quote:

Originally Posted by Sheridan

And they say accountants have no sense of humour, eh?

:D :D Tis true
16/03/2006, 4:56 PM
soccerc

A little birdie is telling me this petition was not flagged to the powers that be and is causing consternation in the inner circles
16/03/2006, 5:03 PM
Poor Student

Quote:

Originally Posted by soccerc

A little birdie is telling me this petition was not flagged to the powers that be and is causing consternation in the inner circles

Irish football's powers that be or Shels'?
16/03/2006, 5:13 PM
soccerc

Quote:

Originally Posted by Poor Student

Irish football's powers that be or Shels'?

Are they not one and the same?

No allegedly the people who are the custodians of the game on our behalf:rolleyes:
16/03/2006, 5:14 PM
Poor Student

Quote:

Originally Posted by soccerc

Are they not one and the same?

Your words not mine.;)
16/03/2006, 5:22 PM
pineapple stu

Just thinking as well - Shels only recently turned down a E400k offer for Jason Byrne. Now even granted that Bray were to get half, that's still E200k at a stage when they were quite clearly screwed. I'd say that in itself constitutes reckless trading on the directors' behalf. Maybe even possible potential liquidators could sue the directors for the amount.
16/03/2006, 5:26 PM
Raheny Red

Has one got the Times and a scanner/camera at hand so they upload the piece to the web? :confused:
16/03/2006, 5:28 PM
pineapple stu

Latest from Shels' forum

Quote:

Originally Posted by Fintan Cassidy

Not sure when the official sStatement - if at all - is being issued, but both myself and Gareth are offline this evening and won't be available to post it.

However, I'm reliably informed, albeit unofficially for the mo, that the problem has being solved and all monies due to the Revenue have since been paid to the full satisfaction of the Revenue.

The latter sounds highly improbable, in my opinion. Revenue would have indicated that they were going to lodge the petition to the Shels directors, so they would have made any payment then rather than letting it go public if they had any sense.
16/03/2006, 5:30 PM
Peadar

Quote:

Originally Posted by Risteard

You'd think with all the clever legal minds we have on here that we'd also have someone with a scanner and a copy of the Irish Times.

We do have a serious collection of professions on this forum alright.
Perhaps we could take over Shels and run it as Leinster FC or something. :D
16/03/2006, 5:31 PM
Poor Student

Goebels is at work already.:D
16/03/2006, 5:31 PM
sfc red

Sorry to spoil the party

Quote:

Originally Posted by Fintan on Shelsweb

Not sure when the official statement - if at all - is being issued, but both myself and Gareth are offline this evening and won't be available to post it.

However , I'm reliably informed, albeit unofficially for the mo, that the problem has being solved and all monies due to the Revenue have since been paid to the full satisfaction of the Revenue.

:p ;) :D
16/03/2006, 5:35 PM
pete

Quote:

Originally Posted by Raheny Red

Has one got the Times and a scanner/camera at hand so they upload the piece to the web? :confused:

The Irish Times has another order for some paint ball company & just standard language no specifics. It says was files on the 13 March & case has to be heard in the High Court before 3 April. Creditors or other people who opposed or support the pedition are welcomed to attend & have their say or something like that. A scanner will add nothing to this.

btw sfc reds post wa smerged into this thread.
16/03/2006, 5:38 PM
chippie0001

Quote:

Originally Posted by sfc red

:p ;) :D

Classic it was up in court 2 days ago and now all debts are paid, if so why did it end up in court at all.
16/03/2006, 5:42 PM
sfc red

Yeah cos I know that :rolleyes:
16/03/2006, 5:43 PM
forza

Dig a hole fast:)
16/03/2006, 5:49 PM
Buile Shuibhne

Quote:

Originally Posted by chippie0001

Classic it was up in court 2 days ago and now all debts are paid, if so why did it end up in court at all.

The cheque was in the post - unfortunately it was posted from Inchicore post office :eek:
16/03/2006, 5:52 PM
Student Mullet

Quote:

Originally Posted by Fintan Cassidy

The cheque was in the post - unfortunately it was posted from Inchicore post office :eek:

I tought that you were going to be offline this evening and so unable to post up the Shels statement?
16/03/2006, 5:57 PM
forza

Quote:

Originally Posted by Fintan Cassidy

The cheque was in the post - unfortunately it was posted from Inchicore post office :eek:

Inchicore PO is gone next excuse:p
16/03/2006, 6:00 PM
REVIP

Quote:

Originally Posted by Raheny Red

Has one got the Times and a scanner/camera at hand so they upload the piece to the web? :confused:

It's on the Indo's website:

THE HIGH COURT 2006 No. 87 COS IN THE MATTER OF ACCOLADE LTD AND IN THE MATTER OF THE COMPANIES ACTS, 1963-2003. NOTICE is hereby given that a Petition for the winding-up of the above-named company by the High Court was on the 13th day of March, 2006, presented to the High Court by Gerard Harrahill, Collector General, of Sarsfield House, Francis Street, Limerick, a creditor of the above-named company, and that the said Petition is directed to be heard before the High Court on the 3rd day of April, 2006, and that any creditor or contributory of the said company who wishes to support or oppose the making of an Order on the said Petition may appear at the time of hearing by himself or his Counsel for that purpose, and a copy of the Petition will be furnished to any creditor or contributory of the said company who requires it by the undersigned on payment of the regulated charge for the same. FRANCES COOKE, REVENUE SOLICITOR, DUBLIN CASTLE, DUBLIN 2, Solicitor for the Petitioner Note: Any person who intends to appear at the hearing of the said Petition must serve on or send by post to the above-named Petitioner or his Solicitor notice in writing of his intention to do so. The notice must state the name and address of the person or, if a firm, the name and address of the firm, and must be signed by the person or firm, or his or their Solicitor, (if any), and must be served, or, if posted must be sent by post in sufficient time to reach the above-named Solicitor or the Petitioner not later than 5 o'clock in the afternoon of the 31st day of March, 2006.
Posted: 16/03/2006

http://www.loadza.com/display_results.php?cat_id=809
16/03/2006, 6:33 PM
Raheny Red

Cheers for that!
16/03/2006, 6:40 PM
pineapple stu

Course, the other thing is that if Shels do get out of this, they are going to have to cut E1m from their costs if the same thing isn't to happen again next season.
16/03/2006, 7:11 PM
Mr A

Quote:

Course, the other thing is that if Shels do get out of this, they are going to have to cut E1m from their costs if the same thing isn't to happen again next season.

Which could be tricky when your squad all have contracts and few of the other clubs are likely to be able to afford them. And that reputed near €1 loss happened in a year with decent European money didn't it? There are many clubs living way beyond their means, and ultimately all this has achieved is to penalise those who don't act recklessly while driving player wages up- in the vast majority cases these players would be available to the league in any case. Time for a wage cap based on turnover anyone? It seems like the only way to get the clubs to get their houses in order.
16/03/2006, 8:00 PM
anto eile

Quote:

Originally Posted by Vitruvian Man

Yeah, conspiracy theory is not quite the right words I was looking for.

I wonder will this clear the way for Shels to do a Rovers and welch out of all but 4% of their debts - considering Shels are soon to have no ground anymore.

In a season with no relegation - it's is the time to do it.

no, because Rovers were in examinership. what we did was legal. doubt anything shles have ever done was legal.
hope they get screwed by the revenue, and then ****ed out of the leaguee.
16/03/2006, 8:19 PM
pineapple stu

Yep, Rovers went into administration - Shels are facing liquidation. Big difference. It's pay the money or die time really. I think the big difference with Rovers is that with the 400 Club taking over, Revenue were pursuaded the club was now a viable business (new ownership, management accounts, cash flow projections, cutting their cloth to suit and all that), whereas they must feel Shels are simply beyond hope of being viable. And with them having to cut back one-third of their expenses and sort out a ground, the Revenue would be well within their rights to take a very dim view of their future business prospects.

Was any club in England or the North ever formally issued with a liquidation petition?
16/03/2006, 8:33 PM
anto eile

Was any club in England or the North ever formally issued with a liquidation petition?

omagh went bust this year didnt they?
16/03/2006, 8:40 PM
pineapple stu

Is it the case that every club issued with such a petition went bust though? Coleraine were served one as well but are struggling on. Clubs in England were threatened with one on many occasions but went into administration and survived. Just trying to work out Shels' chances of success, basically.
16/03/2006, 9:03 PM
A face

Quote:

Originally Posted by Fintan Cassidy

The cheque was in the post - unfortunately it was posted from Inchicore post office :eek:

Was that a registered letter by any chance ?? :eek:
16/03/2006, 9:11 PM
Mr A

It would seem Aertel know something we don't maybe they're aware of what the FAI will do?-

Quote:

Shels, Galway win in First Division 222
16/03/2006, 9:44 PM
DmanDmythDledge

Any news about this Shelbourne statement?
16/03/2006, 10:06 PM
pete

Even if Shels have paid their back taxes the question still remains - how did they get a club licence with what must have been huge losses on the books?
16/03/2006, 10:09 PM
sfc red

Well done lads, 6 pages of you lot getting way too horny about Shels APPARENT problems. Bravo :rolleyes:
16/03/2006, 10:14 PM
Poor Student

Quote:

Originally Posted by pineapple stu

Is it the case that every club issued with such a petition went bust though? Coleraine were served one as well but are struggling on. Clubs in England were threatened with one on many occasions but went into administration and survived. Just trying to work out Shels' chances of success, basically.

Did the original Airdeonians get liquidated in 2002? They certainly died outright.

Dundee FC, Livingston and Motherwell all entered administration I think. Motherwell stayed in administration for ages. Both Dundee and Motherwell had to make immediate player redundancies of whom they've never paid back and never will. It's odd how Shels would have skipped right through to liquidation.
16/03/2006, 10:17 PM
green-blood

Shels APPARENT problems

------------------

nope, there is an ACTUAL winding up order and an ACTUAL court date on April 3rd.... there is not yet an ACTUAL statement, but it seems a lack of statements (of the bank type) could be part of the problem
16/03/2006, 10:17 PM
pineapple stu

Quote:

Originally Posted by sfc red

Well done lads, 6 pages of you lot getting way too horny about Shels APPARENT problems. Bravo :rolleyes:

Talk about burying your head!!! Shels FC have just been petitioned for liquidation, and you deny that there's any evidence of a problem?!:rolleyes:
16/03/2006, 10:22 PM
Poor Student

Quote:

Originally Posted by Student Mullet

I tought that you were going to be offline this evening and so unable to post up the Shels statement?

Gareth was supposed to be offline too and his last activity here was about an hour ago.
16/03/2006, 10:29 PM
sfc red

Get a life lads. They're busy people - stop fcukin stalking them
16/03/2006, 10:30 PM
Poor Student

Quote:

Originally Posted by sfc red

Get a life lads. They're busy people - stop fcukin stalking them

You know that head in the sand thing? You're doing it again.

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